Exelis reports third-quarter 2014 financial results; revises

Exelis reports third-quarter 2014 financial results; revises full-year guidance


Exelis Inc.
Non-GAAP Financial Measures - Adjusted Net Income & Adjusted EPS Excluding Vectrus Results



	Three Months Ended							Three Months Ended
	September 30, 2014							September 30, 2013
			Estimated		Separation Costs	Estimated				Estimated		Separation Costs	Estimated
			Vectrus		Stand-alone	Stand-alone				Vectrus		Stand-alone	Stand-alone
($ million)	As Reported		Operations		Exelis	Exelis		As Reported		Operations		Exelis	Exelis
Orders	1,544		(686	)		858		1,969		(922	)		1,047
C4ISR	437					437		540					540
I&TS	1,107		(686	)		421		1,429		(922	)		507

Sales	1,068		(288	)		780		1,141		(346	)		795
C4ISR	503					503		498					498
I&TS	565		(288	)		277		643		(346	)		297

Operating Income	96		(2	)	2	96		133		(32	)		101
C4ISR	59				1	60		69		(2	)		67
I&TS	37		(2	)	1	36		64		(30	)		34

Operating Margin	9.0	%				12.3	%	11.7	%				12.7	%
C4ISR	11.7	%				11.9	%	13.9	%				13.5	%
I&TS	6.5	%				13.0	%	10.0	%				11.4	%


Cash Flow from Operating Activities	49		(35	)	2	16		74		(12	)		62
Subtract: Capital Expenditures	(19	)	-			(19	)	(20	)	-			(20	)
Free Cash Flow	30		(35	)	2	(3	)	54		(12	)	-	42

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